v3.25.4
Share Repurchases
3 Months Ended
Nov. 30, 2025
Equity [Abstract]  
Share Repurchases

Note 12 – Share Repurchases

The Company’s Board of Directors previously authorized a share repurchase program of up to $250.0 million of common stock with no expiration date. Under the program, shares may be repurchased in privately negotiated and/or open market transactions as well as under formalized trading plans in accordance with the guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The Company’s share repurchases in excess of issuances are subject to a 1% excise tax enacted by the Inflation Reduction Act.

During the three months ended November 30, 2025, the Company repurchased 232 thousand shares of its common stock under the program in open market transactions for $30.3 million, including excise taxes of $0.2 million. During the three months ended November 30, 2024, the amount of common stock repurchased by the Company under the program in open market transactions was not significant. The repurchases completed in the first quarter of fiscal 2026 fully depleted the previous share repurchase authorization.

In November 2025, the Company's Board of Directors authorized a new share repurchase program of up to $150.0 million of the Company's outstanding common stock. As of November 30, 2025, the amount available under this repurchase program remained at $150.0 million.